Midya's Weblog

The wealthy benefit most from tax subsidies? No, you don’t say.

Wealthy benefit most from tax subsidies: study

This is great.  Of course this is the case.  I’d say this is a result of two things.  First, generally, the wealthy are the most educated in knowing how to obtain these benefits.  As is the case in most of life, getting things is not a smiple, formulaic process.  Second, the wealthy have tax liability so they are more motivated to get the tax subsidies.  In the case of credits, the wealthy have the money and credit to do things like buy houses which could get them the housing credit.  This seems predictable.  I could be wrong.

Then, of course, these numbers could mean anything.  The wealthy could benefit more because they have more money in the game.  

Doing away with the popular home mortgage interest deduction would be politically unpopular, but Levere said it could be limited to benefit mostly middle- and low-income people.

“It’s not as if all of the mortgage tax deduction is bad, it’s that there is no upper limit to it,” she said.

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This entry was posted on September 22, 2010 by in Uncategorized.
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